Lorne Steinberg Wealth Management Inc. Raises Stake in Nutrien Ltd. (NYSE:NTR)

Lorne Steinberg Wealth Management Inc. increased its stake in shares of Nutrien Ltd. (NYSE:NTR) by 11.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 71,817 shares of the company’s stock after buying an additional 7,520 shares during the period. Lorne Steinberg Wealth Management Inc.’s holdings in Nutrien were worth $4,047,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NTR. The Manufacturers Life Insurance Company increased its position in Nutrien by 51.3% in the third quarter. The Manufacturers Life Insurance Company now owns 6,853,165 shares of the company’s stock worth $425,881,000 after buying an additional 2,322,679 shares during the last quarter. ANTIPODES PARTNERS Ltd raised its stake in Nutrien by 18,312.9% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,595,295 shares of the company’s stock valued at $89,862,000 after acquiring an additional 1,586,631 shares during the period. Clal Insurance Enterprises Holdings Ltd lifted its holdings in Nutrien by 544.3% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,361,282 shares of the company’s stock valued at $84,794,000 after purchasing an additional 1,150,000 shares during the last quarter. TD Asset Management Inc boosted its position in Nutrien by 15.0% during the third quarter. TD Asset Management Inc now owns 7,175,994 shares of the company’s stock worth $445,187,000 after purchasing an additional 933,517 shares during the period. Finally, FMR LLC boosted its position in Nutrien by 15.4% during the third quarter. FMR LLC now owns 6,369,027 shares of the company’s stock worth $393,325,000 after purchasing an additional 849,908 shares during the period. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

Nutrien Price Performance

Shares of NTR traded down $0.39 during trading hours on Wednesday, reaching $51.88. 428,986 shares of the stock traded hands, compared to its average volume of 1,993,554. Nutrien Ltd. has a 52-week low of $47.90 and a 52-week high of $71.25. The company has a current ratio of 1.17, a quick ratio of 0.65 and a debt-to-equity ratio of 0.35. The company has a market cap of $25.66 billion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 1.95 and a beta of 0.89. The company’s 50-day moving average price is $53.10 and its two-hundred day moving average price is $54.17.

Nutrien (NYSE:NTR) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.35). The business had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.36 billion. Nutrien had a return on equity of 8.59% and a net margin of 4.33%. The company’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.02 earnings per share. On average, analysts anticipate that Nutrien Ltd. will post 3.82 earnings per share for the current year.

Nutrien Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 28th were paid a $0.54 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $2.16 annualized dividend and a yield of 4.16%. This is a boost from Nutrien’s previous quarterly dividend of $0.53. Nutrien’s payout ratio is presently 85.38%.

Wall Street Analysts Forecast Growth

NTR has been the subject of several analyst reports. Wolfe Research assumed coverage on shares of Nutrien in a report on Friday, March 1st. They issued an “outperform” rating and a $66.00 price objective for the company. Berenberg Bank cut their price target on shares of Nutrien from $67.00 to $60.00 and set a “hold” rating for the company in a report on Thursday, February 8th. BMO Capital Markets dropped their price objective on shares of Nutrien from $86.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, January 25th. HSBC lowered their price target on shares of Nutrien from $63.00 to $57.00 and set a “hold” rating for the company in a research note on Friday, March 8th. Finally, CIBC decreased their price objective on Nutrien from $87.00 to $76.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $67.95.

Nutrien Profile

Nutrien Ltd. provides crop inputs and services. The company operates through four segments: Retail, Potash, Nitrogen, and Phosphate. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products.